Which of the Following Is a Quota

question 53

Multiple Choice

Which of the following is a quota?

• A)A toll on land and sea traffic entering a country
• B)A ban on imports from another country
• C)A limit to the amount of a foreign good that can be sold in a country
• D)A tax on imports levied at the border,paid by the importer

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Definitions:

Bowed Out

A description usually of production possibilities frontier that shows increasing opportunity costs.

Command Economy

An economic system in which the government or central authority makes all decisions about the production and distribution of goods and services.

Centralized

A system or organization where decision-making and administrative processes are concentrated at a single point or center.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as the percentage increase in real GDP.